The Art of Trading with MTF Stochastics

everyone must be sleeping... i slept a couple hours and woke up.. not much going on with market... GJ looks like it may be nice short setup soon though. ill prob go back to sleep soon until london

long opportunity on EU

I already exited +8.8 pips

My today trade for +7pips
I was trading together with 4H stoch and 1H stoch which ponted down,the 30M was flat at the moment of entry but because 15M went all the way to overbought and crossed 80 down I was quite sure of grabing 5-10 pips.

Here is what I would consider to be a classic failed trade taken today:



Instead of entering a couple of bars earlier when the M15 had just touched and then left the 76 line I waited for the 30 and 60 stochs to confirm, which they did. It was not a very clever trade, as you can see. The strong support around 164.00 shows up everwhere:



The trade went into profit briefly and then left the area, with a couple of teasers on the way. Not helped by the news release at 1.30GMT (8.30 EST) the EJ changed direction for good and I had an opportunity to recoup my losses.

Lessons learned:

Just because the H4 stochastic is in the right position does not mean your trade is guaranteed.
Look at where the price has been for the last couple of hours, especially where it has formed lows (support) or highs (resistance)and not just daily S and R.
Enter the trade at the right moment, eg when the M5 has just turned the corner and supports you direction.
Learn about price action. Those hourly candles were shouting.
Be lucky, like me, learning from mistakes like this with micro lots, or a demo account.
If you miss the last train, there will always be another one in the morning.

Hi Guys,

Although I had decided earlier this week to put the BoxingisLife Sexy Stochastics aside for this week, after sitting around for more than three hours this morning without seeing one good clear setup, I became really itchy for something, so I decided to take this one.

This setup: 25,10,10 overbought in M5, strong uptrend confirmed on M15 chart (not attached). 5,3,3 on the M5 crosses its signal up after hitting bottom, enter long.

Exited with +8 as it slid back from +13.

smikester,

It looks to me like your stochs were not in any standard position to trade, so your trade very risky to begin with. It wasn't an "away trade" since the 15 was descending by itself, and it wasn't an elasticity trade since the H4 was not in oversold.

What do you mean when you say, "I waited for the 30 and 60 stochs to confirm?" Would you mind describing the exact rules that got you into this trade? Unless I'm missing something here (always quite possible), I don't understand your entry. Might help us both.

Thanks!

Hi all,

Here's a trade I took this morning on audjpy (fast becoming a favorite pair):

Entered 1046 EST at .9779 (including spread), exited +13.

I took this trade based on the 15 coming out of the hole (crossing up past 23.6), with the M30 right behind it and the H1 following the M30, like three little soldiers. H4 was headed straight down, but is a slow follower so, unless I'm using the H4 as an ob/s anchor for a rubberband, I will often ignore it.

Hope everyone has a great weekend!

Just took this trade, a boxingislife sexy is back setup (also known here as "sexy").

Strong downtrend as indicated on the M5 by blue 25-10-10. Trend confirmed on M30 & M60 as well (very important to have MTF chart confirmation!).

Entered short at end of retrace as indicated by 5,3,3 crossing its signal down. Retrace was nice and deep into overbought, all the way to the top of the chart, indicating a strong resumption of the trend would likely follow (it did).

I exited with only +5 when price stalled at late hour of the morning (chicken little would have done the same). As I post this, price is still moving down, now +24. One day I hope to build enough confidence to stay in for many more more +pips!

Yes, believe it or not, the H1 and M30 were pointing downwards at the time the trade was opened.

But you are right, it doesn't meet any proper rules. Very risky is putting it politely...

AJ is looking like the 15 is going to join the others,so watch it for possibly short entry

Aj didnt developed into nice short entry.
If you are interested i attach chart GJ which shows my today trade for +10 pips

..

HI Jeff

I would like to refer to your first chart with A/J ,this is a nice stochastic setup althhough the trade was against 4H,but you was aware of that and I just want to say to less experienced traders that trdaing against 4H is more risky as you trade against trend and is better to no to trade at all such setups.the trend can safe us when we get in trouble.For me that is very important rule"do not trade against 4H stoch."there is so many good stochastics setups that we can be picky and concentrate on the best ones.Keep that in mind and be the winner

Hi Everyone,

A few of us have been chatting in our new dedicated trading room, and we'd like to invite you all to come down and join us!

We all trade at different times and because there are only a few of us, there are many times when we're alone in the room. Come down, log in, help spot potential setups and share trading ideas with other traders who are also focused on MTF Stochastics. We're friendly, and it's fun!

Getting into the trading room is simple:

!. Go to http://ensign.editme.com/chat and click on the download link, just under INSTALLATION.

2. Download and save the setupchat.exe file and follow the setup instructions at the ensign site. It's easier than it looks, and you will be setup completely in less than five minutes!

4. Login to our room #56 - MTF Stoch. Password is mtfstoch2008.

5. That's it!

Rules are simple - we're trading MTF Stochastics in the room. We're friendly, and that's how we like it. If you can imagine being in a real live trading room with an eager team of collaborative traders all working toward the same goal, then -- please join us! Most other stuff is handled well by the forum here at FF.

For example, I'd rather see trades already taken, setup concepts and other ideas that may encourage further discussion, posted here in the forum, so that they can remain as a standing archive for others to view, review, and respond to whenever they have the time. The interaction here has been great, and I don't want to disturb that in any way, as we've formed a really nice community of truly generous folks who all want to learn the art, and improve their own skills.

The trading room, on the other hand, is a more immediate session, and consists primarily of "just prior to" and "in the trade" interaction that will quickly scroll up the screen and disappear forever, similar to an IM chat session. We'll also discuss tactics, strategies and setups, and questions about potential trades.

We look forward to seeing you there!

If you have any questions or problems logging in, please post them here in the forum.

wow, this chat room will be a great for my trade
Thank's k2kv. No one was there GMT 2.15, ok, I'll wait.

Any way, does any body see a bull trend on GJ this week begin ? DC

there is good setup on GJ pair almost every day

I'm using mtf stoch 533
TF(15,30,60,240) to define trend
EMA4hi,lo +TF M5 for entry price

here is one set up
I long at 228.07(see green up arrow) and
closed 228.57, (H1 is OB)

This is another set up,

for entry choose between break EMA4 hi or stoch M5 cross 50, or you can use it both. This step will guarantee to have a very small draw down.

even very small draw down for GJ, I still have to use sl 30 pips

My today trade for +11pips.
this is example of "Climbing away trade long": 1H,15/30M nicely lined up and strongly pointing up together,1H and 30 M are very tight together.
My target was pivot line but I exited a litile bit before price test it,it was very quick and no heat green pips.

As trading away from 4H remember we should not chase for big pips gain as we trade away from 4H.Keep that in mind.
I prefer to trade into 4H as it is more safely to stay with overall trend.